Nippon Steel keeps H-beam selling price for the order in June, notified to dealers last week. Instead of the selling price increase, the firm reduces the order receipt to adjust the supply and demand balance. However, the firm is expected to increase the price widely next month to cover anticipated higher steelmaking material cost.
The dealers’ H-beam shipment decreased after Japanese holidays in early May. With the slowing demand, the dealers’ inventory would increase. The market price could decline while electric furnace steel makers reduce ferrous scrap purchasing price. Nippon Steel seems to cut the production more while the current operation level is around 30% of the normal level. The inventory held by distributors dealing Nippon Steel’s product increased by 1.2% to 182,100 tonnes in April from March, which increased for the first time in 6 months. The market price turned into adjustment after increase with supply side pressure. Nippon Steel reduces the production to adjust supply and demand balance and prevents the price decline while construction market is unlikely to improve.Japan Steel Scrap Composite Prices (Sangyo Press)
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